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Strategies & Market Trends : Stock Attack -- A Complete Analysis -- Ignore unavailable to you. Want to Upgrade?

To: horsegirl48 who wrote (27563)	8/14/2000 7:01:22 AM
From: donald sew	Respond to of 42787

Horsegirl, What occured last week with the DOW was bullish, but if you read the index update my short-term technicals were in the overbought region. I dont know if you are playing the short-term or mid-term or longer-term. For the short-term(1-5 days), I feel that the upside is limited with significant horizontal resistance in the 11,100-11,200 region with a specific resistance line at 11,140. For a ANDREW's FORK I drew I have the UPPER TRENDLINE of the FORK at 11,200 for this WED, and for today around 11,170. Im eyeballing it so its not exact. So Im expecting some sort of a consolidation/slight pullback in the DOW soon. Again Im not expecting a strong pullback. Thats for the short-term, for the mid-longer term the DOW is bullish and is forming higher highs and higher lows. Take a look at the technical indicators per the following chart, and you will notice that they are all near overbought extremes. The problem with technical indicators is that they can stay at the overbought region as the DOW continues up. siliconinvestor.com Also the week after expiration is statistically a weaker period.